Portland Elks Lodge Property To Be Redeveloped

Diversified Partners LLC and Fancy Sauce LLC have purchased a portion of the Portland Elks Lodge for $1,250,000.  The entire property included a 23,090± SF lodge building on nearly 7 acres at 1945 Congress Street.  Portland Lodge #188 BPOE of USA was the seller.  In a unique sale arrangement, the purchasers formed a three property condominium and acquired the development rights to the excess land on two of the condo units, while also reducing the Elks Lodge to 13,500+/- square feet and leaving the Elks Lodge in place, in soon to be renovated building.  The property went under contract in 2014 and closed April 20, 2017, after a long permitting process. 

Northland Enterprises will be developing the property into offices for Clark Insurance and a medical office building.  The lodge building will also be completely renovated for the Elks #188 Lodge.

Mark Malone, CCIM of Malone Commercial Brokers represented the Elks Lodge and Greg Boulos of CBRE/The Boulos Co. represented the buyers in the sale transaction.   Portland Press Herald 4/26/2017

Simon Pearce Opens in Portland

Simon Pearce opened its Portland store at 111 Commercial Street.  The company's other locations include Boston, Greenwich and Westport CT, Burlington and Quechee VT and Hanover NH. 

Peter Harrington of Malone Commercial Brokers represented the landlord, Blanchard Block LLC, and Tim Duffy of The McDevitt Company represented Simon Pearce in the leasing of the 2,075 SF retail space in Portland's Old Port.

The Holy Donut Comes to Scarborough

“Business is booming and it’s exceeding our wildest expectations…we’re thrilled and we’re busy.”

--Jeff Buckwalter, General Manager – The Holy Donut

The Holy Donut opened earlier this month at 398 U.S. Route 1 in Scarborough.  General Manager Jeff Buckwalter was tasked by The Holy Donut owner and founder Leigh Kellis with finding space for a new store.  Mark Malone, CCIM and Marie Gresik helped The Holy Donut in its search for the best space and location for its 3rd store. 

The new Scarborough store is located at the lighted intersection of U.S. Route 1 and the Haigis Parkway and less than 5 minutes from the Maine Turnpike. 

The 3,080 SF former Tim Horton’s building was a great match for the Portland-based company.  Jeff indicated that this store will also serve as the main baking facility for The Holy Donut’s other Greater Portland locations. 

Founder Leigh Kellis was recently awarded Maine’s Small Business Person of the Year.  In an interview about the SBA award with WCSH’s Beth McEvoy, Kellis indicated that on a busy Saturday we’ve sold nearly 10,000 donuts.

Jeff, when asked about further expansion plans, said “I’m not even thinking about that right now.  We’re going to digest this place and then we’ll take it from there.”

“This location we picked because of its exposure to Route 1 and its ability to challenge our staff. I can’t thank Mark and Marie enough for finding this space.” added Jeff.

Malone Commercial Brokers brokered the transaction, Mark Malone, CCIM of Malone Commercial Brokers represented The Holy Donut and Kevin Fletcher, CCIM of Malone Commercial Brokers, CCIM represented the landlord in the lease negotiations.

Maine Real Estate & Development Association (MEREDA)

On Thursday, January 19th, leaders from Maine's real estate, construction, architectural, banking and legal communities will gather to learn about economic projections for the industry.  Check out the agenda, and please join us at MEREDA.

Malone Commercial Brokers will be exhibiting at MEREDA's Annual Member Showcase, so stop by our Booth #3 on January 19th at the Holiday Inn By the Bay in Portland. 

Mark Malone Attends ICSC National Deal Making NYC

Mark Malone attended this year’s ICSC (International Council of Shopping Centers) New York National Deal Making conference held at the Jacob Javits Center in New York City, December 5 & 6th.  The conference’s key note presentation was given by Kevin Plank, Founder and CEO of Under Armour.  It was reported there was record attendance this year with some 10,000 developers, retailers, brokers and other retail real estate professionals attending.

 

Peter Harrington Elected VP of MAR

Peter Harrington, Partner & Associate Broker for Malone Commercial Brokers, has been elected Vice President of the Maine Association of Realtors (MAR).  Peter was inducted during MAR’s 2016 Convention & Trade Show held October 4-6, 2016 at the Sunday River Grand Summit Hotel in Newry, Maine.

It was highly acknowledged and recognized throughout the convention that Peter is the first commercial realtor to serve in this capacity in Maine. Peter has over 25 years of experience in Maine commercial real estate.  He focuses on leasing and sales in the Greater Portland market.